PRVT vs. IAK
PRVT (Tema Listed Private Managers ETF) and IAK (iShares U.S. Insurance ETF) are both Financials Equities funds. PRVT is actively managed, while IAK is passively managed. Their correlation of 0.80 suggests significant overlap in exposure. PRVT charges 0.75%/yr vs 0.38%/yr for IAK.
Performance
PRVT vs. IAK - Performance Comparison
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Returns By Period
PRVT
- 1D
- 2.08%
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IAK
- 1D
- -0.54%
- 1M
- 9.98%
- 6M
- 8.86%
- YTD
- 8.75%
- 1Y
- 15.12%
- 3Y*
- 20.87%
- 5Y*
- 15.64%
- 10Y*
- 13.32%
PRVT vs. IAK - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
PRVT Tema Listed Private Managers ETF | 1.57% |
IAK iShares U.S. Insurance ETF | -1.26% |
Correlation
The correlation between PRVT and IAK is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 6, 2026 | 0.80 |
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Return for Risk
PRVT vs. IAK — Risk / Return Rank
PRVT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IAK
PRVT vs. IAK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tema Listed Private Managers ETF (PRVT) and iShares U.S. Insurance ETF (IAK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PRVT | IAK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.18 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.99 | — |
| Martin ratioReturn relative to average drawdown | — | 4.88 | — |
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Drawdowns
PRVT vs. IAK - Drawdown Comparison
The maximum PRVT drawdown since its inception was -2.95%, smaller than the maximum IAK drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for PRVT and IAK.
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Drawdown Indicators
| PRVT | IAK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.95% | -77.38% | +74.43% |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.62% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.58% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.76% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.95% | — |
Current DrawdownCurrent decline from peak | -0.93% | -1.74% | +0.81% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -16.06% | +15.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.10% | — |
Volatility
PRVT vs. IAK - Volatility Comparison
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Volatility by Period
| PRVT | IAK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.41% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 11.49% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 39.67% | 15.32% | +24.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.67% | 18.06% | +21.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.67% | 20.84% | +18.83% |
PRVT vs. IAK - Expense Ratio Comparison
PRVT has a 0.75% expense ratio, which is higher than IAK's 0.38% expense ratio.
Dividends
PRVT vs. IAK - Dividend Comparison
PRVT has not paid dividends to shareholders, while IAK's dividend yield for the trailing twelve months is around 2.45%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAK iShares U.S. Insurance ETF | 2.45% | 1.69% | 1.49% | 1.44% | 1.69% | 2.26% | 2.07% | 1.84% | 2.33% | 1.62% | 1.68% | 1.62% |
PRVT Tema Listed Private Managers ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PRVT and IAK have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IAK is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IAK is cheaper with a 0.38% expense ratio, compared with 0.75% for PRVT.
IAK has the higher dividend yield at 2.45%, compared with 0.00% for PRVT.
They also come from different issuers: Tema and iShares. Their fees differ too: 0.75% for PRVT and 0.38% for IAK.
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